Sonos’ recently rumoured Sub Mini wireless subwoofer, which was recently spotted in an FCC filing, is likely being delayed. As reported by The Verge, Sonos, after reporting its third-quarter earnings on Wednesday, has announced that it is pushing back a product launch that was scheduled for the near future.
The product in question is “almost certainly” the Sub Mini, which is an entry-level subwoofer that features a cylindrical design and a pill-shaped cutout in the middle. The product is still coming out this year, albeit a little later. “We always consider the kind of product that it is, and the timing,” said Sonos CEO Patrick Spence during the earnings call. “We remain committed to two new product launches each year.”
A Sonos spokesperson confirmed the delay in a statement given to The Verge.
Further, according to Sonos CFO Brittany Bagley, the company is holding onto more inventory than it would like to and is facing a challenging Q4 amid global economic turmoil, sticky inflation and an appreciating U.S. dollar.
“We have seen the macroeconomic backdrop become significantly more challenging for us starting in June as the dollar’s appreciation and high inflation have adversely affected consumer sentiment globally, particularly in the categories in which we play,” said Spence during Sonos’ third quarter fiscal earnings release. “Although we cannot predict when macroeconomic conditions will normalize, we remain confident that, when they do, we will return to double-digit revenue growth.”